Since SCSS cannot be liquidated in parts, here is my recommendation - open multiple SCSS accounts one each with amounts - 1L, 2L, 4L, 8L and 15L. This combination ensures that you can liquidate one or more accounts to meet any fund requirement (in multiple of lakhs). For example, for 7L, break 1L, 2L and 4L accounts.
I love that SCSS offers a higher interest rate than a regular savings account, and the government backing makes it feel very secure. It’s perfect for seniors who want to protect their savings
I’ve been investing in SCSS for a couple of years now, and it has helped me secure a steady income after retirement. The tax benefits are also a big plus
Thanks for sharing all details. However, it appears one point has been missed. In case of Joint account and death of a first holder, spouse completing 60 years, she can continue the account (subject to max of Rs.30 lakhs) and earn 8.2%. In other cases, it has to be closed. Joint account holder or nominee can get the amount. I hope the information is correct.
आपने बहुत अच्छे से समझाया मेरी एक समस्या में मैने 15h भी भरा था तो पहले qartar में तो TDS नहीं काटा मगर दूसरे में काट लिया संपर्क करने पर बताया कि रिटर्न फाइल करने पर वापिस मिलेगा इसका समाधान बताए
Similar like PPF account. Extend limitless ( till you are alive) . It stops earning interest on the day the account holder expires ( except when joint and both holders are Sr. Citizens)!
After opening the ac in single name can it be converted to joint ac with spouse (below 60 yrs )and deposit extra amount to enhanch the pension amount .Kindly reply.
Sir is this deposited principal amount subject to bank's annual performances report and in case of negative report will the liability be passed on to the account holders by limiting them to rupees 5 lakh insurance money?
No such provision you will have take quarterly. If you don't need in that case I suggest you to open a recurring deposit scheme and your interest income will be more.
SIR ,KINNDLY CLARIFY IN SCS FOR SINGLE ACCOUNT 15 LAC AND FOR JOINT 30 LAC (HUSBAND AND SPOUSE ).NOT 30 LAC FOR SCS SINGLE ACCT AND JOINT 60 LAC. I ASKED IN POST OFFICE .
Tell the serious draw back of this scheme when husband and wife both are senior citizens and have a joint account and one of them dies before 5 yesrs then the a/c will be closed with penalty interest deducted from it.Bring this to your viewers and report it to the gotv instead of over praising it.
See proviso to rule 7(2) : Provided further that in case of a joint account, or where the spouse is the sole nominee, the spouse may continue the account on the same terms and conditions as specified under this Scheme, if the spouse meets eligibility conditions under the Scheme on the date of death of the account holder.
@@prabhakantshukla4180 A sr citizen can open one more accounts singly or jointly and can deposit only up to 30 L. If the spouse is not a sr citizen she can not open the a/c. She can be Applicant No.(2)in the Joint account.
Sir please advice Kya commutation ka paisa is main lagana chahiye Dono ke intrest rate ke hisab se kya fayde ka hai. 1. Commutayion na lena Or 2. Commutayion le ke isme invest larna..
8.2% ಗ್ಯಾರಂಟಿ. ಒಬ್ರೇ ಇದ್ರೆ 30 ಲಕ್ಷ ಇಟ್ಟು 20500 /- ಸಿಗುತ್ತೆ. ಆದ್ರೆ ಹಣ ಇದ್ದು ಇಟ್ರೆ ಆಗುತ್ತೆ. ಇದಕ್ಕಿಂತ ಒಳ್ಳೇದು ಅಂದ್ರೆ ಯುನಿಟಿ ಬ್ಯಾಂಕ್ ಅಥವ ಸೂರ್ಯೋದಯ ಬ್ಯಾಂಕ್ ಒಳ್ಳೇದು ಆದ್ರೆ ಒಬ್ಬರ ಹೆಸರಲ್ಲಿ 5 ಲಕ್ಷ ಮಾತ್ರ ಇಡಬೇಕು ಯಾವ ಬ್ಯಾಂಕ್ ಅಲ್ಲದ್ರೂ ಸರಿ ಇನ್ಶೂರೆನ್ಸ್ ಇರುತ್ತೆ. ಅಂದ್ರೆ 20 ಲಕ್ಷ ಒಂದು ಬಂಕಲ್ಲಿ ಇಡಬಹುದು ಹೇಗಂದ್ರೆ ಗಂಡ 5, ಹೆಂಡತಿ 5, ಗಂಡಹೆಂಡ್ತಿ ಜಾಯಿಂಟ್ 5, ಹೆಂಡ್ತಿಗಂಡ ಜಾಯಿಂಟ್ 5 ಲಕ್ಷ ಇಟ್ರೆ ತಿಂಗಳಿಗೆ 15500/- ಸಿಗುತ್ತೆ, ಅದೇ 60 ಲಕ್ಷಕ್ಕೆ 46-47 ಸಾವಿರ ಸಿಗುತ್ತೆ ತಿಂಗಳಿಗೆ.
@@sbora71श्रीमान जी जिस समय अकाउंट खोला जाएगा अकाउंट ओपनिंग फार्म पर जितना परसेंट इंटरेस्ट लिखा जाएगा वही आपको भुगतान किया जाएगा फिर चाहे काम हो याज्यादा
If a senior citizen is having a joint A/C with his wife,but all of a sudden he passed away and wife has not crossed 60 years of age. In this situation what will be the status of this account.
After death interest of scss will be of sb interest as her age is below 60. So best option is to close the account and open a new Fd or Rd. There is no penalty for premature closure in this case of sudden death of senior citizen. Hope I have cleared your doubts. She will not get scss interest in joint scss account.
Taxpayers ko 6000000 ke investment per jo 492000 milega usmein se agar 30% tax kat jata hai to bachega 344400 matlab intrest 8.2% se ghat ker intrest banega 5.74%,kiya main sahi samajh raha hoon ??
Yes, you are right. Mutual funds are less risky and not guaranteed, whereas returns of SCSS are guaranteed.. Ye retired people ke liye hai Jo risk lena nahi chahte aur unhe per month ek guaranteed income bhi mile. Okay 👍
MFs traditionally gives better return than all the Banks scheme. Remember: MFs return per year varies ( when you want to withdraw, that year might be giving less return) MF returns are subject to Lock ins( some scheme), and as such MF interest is variable, similar like SCSS. MF is subject to LTCG/STCG. MF partial withdrawal can be done while SCSS full scheme needs to be closed. MFs are related to Money market directly hence risky but SCSS return is guaranteed You need to select MF schemes properly ( there are plenty of them) and not all of them gives good return.
What is the use the interest received if more than 50,000 then it is taxed, so it is of no use, why is a senior citizen being taxed, when they do not have a job.
स्कीम की पूरी जानकारी देने के लिए आपको बहुत बहुत धन्यवाद।
Very good scheme for senior citizens
Since SCSS cannot be liquidated in parts, here is my recommendation - open multiple SCSS accounts one each with amounts - 1L, 2L, 4L, 8L and 15L. This combination ensures that you can liquidate one or more accounts to meet any fund requirement (in multiple of lakhs). For example, for 7L, break 1L, 2L and 4L accounts.
It's a fantastic scheme 👍
Thank you 👍
I love that SCSS offers a higher interest rate than a regular savings account, and the government backing makes it feel very secure. It’s perfect for seniors who want to protect their savings
Wow that's interesting I'll surely suggest this video to senior citizens
Sir ji ,excellent presentation, Thank you very much!
Very helpful for senior citizens good schemes
Dhyawad sir ji yeh aapne badiya se samjhaya hai bhout accha laga
easy to invest in, the interest rates are great, and it provides a reliable source of income
Syad akbar sahib it is a great teaching of Islam not to accept interest.but unfortunately many are making bank deposit and taking interest.
@@subrataray5227 what about people earning dollars on youtube. Is it okay?
ब्रिजेश जी,
बहुत ही बढ़िया विश्लेषण।
धन्यवाद।
Very great presentation 👍👍👌👌👌
Very well explained in simple terms 👏 👍 👌 😊
Very Well Explained Pl Keep Sending Such Type of Videos for Senior Citizens
Acchi jankari hai thanks 🙏
7:43 very informative👌
Thank you very much excellent explanation
Very nice analysis. God bless you.
Great way of explanation👌
بہت بہت شکریہ حیدرآباد انڈیا سے
बहुत बहुत धन्यवाद वकील सा
I’ve been investing in SCSS for a couple of years now, and it has helped me secure a steady income after retirement. The tax benefits are also a big plus
🎉❤🎉 Adesh Pitrudeva 🎉
Nice explaining of scheme, thank you. 🙏
Thank you sir🙏
Waah ji waah yeh accha investment offer hai
Very useful for the seniors
Great gift😊
Thank you so much for this information.
Good financial planning after retirement
Very well explained. Thanks.
Nicely explained. Thanks a lot.
Thanks for the information ❤
Good information for the Seniors.
Good info👌
Thanks very nice video
Good scheme, Thanks sir🎉🎉
Thank you Sir,nicely briefed
Good 🙏
Thnx a lot for this wonderful information
Very good and safe scheme
What is the time limit for opening of account after getting retirement from defence?
Good information thank you very much
Thanks for nice information... Can I make nominee my kids? Pls advise.
Good information ji
Thank you so much Sir
Good morning sir good information
Thanks for sharing all details. However, it appears one point has been missed. In case of Joint account and death of a first holder, spouse completing 60 years, she can continue the account (subject to max of Rs.30 lakhs) and earn 8.2%. In other cases, it has to be closed. Joint account holder or nominee can get the amount. I hope the information is correct.
Sir, in case senior citizen do not get any pension, how will such citizens move on in their life, with their medical bills rising. Pls suggest.
आपने बहुत अच्छे से समझाया मेरी एक समस्या में मैने 15h भी भरा था तो पहले qartar में तो TDS नहीं काटा मगर दूसरे में काट लिया संपर्क करने पर बताया कि रिटर्न फाइल करने पर वापिस मिलेगा इसका समाधान बताए
Yeh badiya hai guru😃
If Sr. Citizen invested
30,00,000 they got
Rs. 20,100/- per month not 41000/-
@ 8,20%
True
20500
Sir, Term of SCSS can be extended for 3 years only once as per Rule 8 (3).
But after amendment in 2024, you can renew your account for term (three years ) in many times
@@lilakimahima सही बात। इस amendment ध्यान में नहीं आया था।
Similar like PPF account. Extend limitless ( till you are alive) . It stops earning interest on the day the account holder expires ( except when joint and both holders are Sr. Citizens)!
I have question that senior citizen deposited in post 30 lakh ×2 than this cupal will deposit more in any other banks in scss ?
You can't do that as all accounts are monitored by pan card, let it be in any bank
@@anandas3733 thank you sir for information shearing
No.
Is it taxable?.If so then after deduction of tax he will get which percentage?Please invest after proper calculation.
After opening the ac in single name can it be converted to joint ac with spouse (below 60 yrs )and deposit extra amount to enhanch the pension amount .Kindly reply.
No
how many times will be extended?
Sir is this deposited principal amount subject to bank's annual performances report and in case of negative report will the liability be passed on to the account holders by limiting them to rupees 5 lakh insurance money?
❤
वकील साहिब अगर हम इंटरेस्ट न लें तब क्या ,होगा
No such provision you will have take quarterly. If you don't need in that case I suggest you to open a recurring deposit scheme and your interest income will be more.
SIR ,KINNDLY CLARIFY IN SCS FOR SINGLE ACCOUNT 15 LAC AND FOR JOINT 30 LAC (HUSBAND AND SPOUSE ).NOT 30 LAC FOR SCS SINGLE ACCT AND JOINT 60 LAC. I ASKED IN POST OFFICE .
SGL 30 lac
Per Head 30 can be done
Tell the serious draw back of this scheme when husband and wife both are senior citizens and have a joint account and one of them dies before 5 yesrs then the a/c will be closed with penalty interest deducted from it.Bring this to your viewers and report it to the gotv instead of over praising it.
See proviso to rule 7(2) : Provided further that in case of a joint account, or where the spouse is the sole nominee, the spouse may continue the account on the same terms and conditions as specified under this Scheme, if the spouse meets eligibility conditions under the Scheme on the date of death of the account holder.
Ager joint a/c hai(husband and wife)
or nomnee 3Rd hai, to Kya ist
Joint Ke death ho jaya, wife KO painsa milega ya nomnee
Sir what about ,if both wife n husband are sr citizens n retired from Govt jobs
They can open separate joint accounts, up to the limit of 30.00 lac each.
14.05 please explain.
Jiont A/C if wife is not Sr citizen can we deposit by her name
Joint Account mein unko second applicanat bana sakte hain. Senior citizen hote tak unke nam se alag SCSS a/c nahin khol sakte.
Ok but question is being a joined A/C holder can we deposit by her name as on video 30+30.
@@prabhakantshukla4180 A sr citizen can open one more accounts singly or jointly and can deposit only up to 30 L. If the spouse is not a sr citizen she can not open the a/c. She can be Applicant No.(2)in the Joint account.
Icici bank is not paying before maturity
Joint Account Rs. 6000000 nehi hota. Wrong.
You said for Husband & wire senior citizen, what about those who are single? They can't put their daughter's name with them as either or survivor
Excellent information
Is TDS is cut
Tax implication should be discussed clearly.
Nice video sir
Agar wife nahi hay ya expire hay to nominikon rakh saktehay 2000000kamanthali kitanahay
Why to deposit here, when banks offer better interest rates?
Retirement ki kitane din baad bhee is scheme me account khol sakte hain?
60 years ke bad kabhi bhi khol sakte hain. Agar aap 60 saal se pehle retire hote to bhi zama kar sakte ho.
Sir please advice
Kya commutation ka paisa is main lagana chahiye
Dono ke intrest rate ke hisab se kya fayde ka hai.
1. Commutayion na lena
Or
2. Commutayion le ke isme invest larna..
After Retirement till when can you invest in this scheme
Nice video.
10% TDS is deducted from the interest of Senior citizens scheme
Sir हॉयर पेंशन के लिए आवेदन किया है दो साल पहले ईपीएफओ ऑफिस दे नहीं रहा इतना भी हो जाए तो हम सीनियर सिटीजन को बहुत ही अच्छा रहेगा बाकी सब बकवास है
सिनियर सिटीझन को सरकार देने वाली नहि है और कुछ मिलता नहि है सिवाय
सरकारी कर्मचारियों राज्य और केन्द्र के कर्मचारियों !? 😂🎉
Interest rate of 8.2 is not guaranteed, right?
8.2% ಗ್ಯಾರಂಟಿ. ಒಬ್ರೇ ಇದ್ರೆ 30 ಲಕ್ಷ ಇಟ್ಟು 20500 /- ಸಿಗುತ್ತೆ. ಆದ್ರೆ ಹಣ ಇದ್ದು ಇಟ್ರೆ ಆಗುತ್ತೆ. ಇದಕ್ಕಿಂತ ಒಳ್ಳೇದು ಅಂದ್ರೆ ಯುನಿಟಿ ಬ್ಯಾಂಕ್ ಅಥವ ಸೂರ್ಯೋದಯ ಬ್ಯಾಂಕ್ ಒಳ್ಳೇದು ಆದ್ರೆ ಒಬ್ಬರ ಹೆಸರಲ್ಲಿ 5 ಲಕ್ಷ ಮಾತ್ರ ಇಡಬೇಕು ಯಾವ ಬ್ಯಾಂಕ್ ಅಲ್ಲದ್ರೂ ಸರಿ ಇನ್ಶೂರೆನ್ಸ್ ಇರುತ್ತೆ. ಅಂದ್ರೆ 20 ಲಕ್ಷ ಒಂದು ಬಂಕಲ್ಲಿ ಇಡಬಹುದು ಹೇಗಂದ್ರೆ ಗಂಡ 5, ಹೆಂಡತಿ 5, ಗಂಡಹೆಂಡ್ತಿ ಜಾಯಿಂಟ್ 5, ಹೆಂಡ್ತಿಗಂಡ ಜಾಯಿಂಟ್ 5 ಲಕ್ಷ ಇಟ್ರೆ ತಿಂಗಳಿಗೆ 15500/- ಸಿಗುತ್ತೆ, ಅದೇ 60 ಲಕ್ಷಕ್ಕೆ 46-47 ಸಾವಿರ ಸಿಗುತ್ತೆ ತಿಂಗಳಿಗೆ.
Yes its not guaranteed, it changes every year
@sbora71 no for the period you have made is constant as of now it is 8.2%
@@sbora71श्रीमान जी जिस समय अकाउंट खोला जाएगा अकाउंट ओपनिंग फार्म पर जितना परसेंट इंटरेस्ट लिखा जाएगा वही आपको भुगतान किया जाएगा फिर चाहे काम हो याज्यादा
Once the account is opened, the rate of interest is fixed up to maturity.
Interesting scheme
At a time kitna amount rakhna hoga?
INCOME TEX KITNA KATEGA?
If a senior citizen is having a joint A/C with his wife,but all of a sudden he passed away and wife has not crossed 60 years of age. In this situation what will be the status of this account.
After death interest of scss will be of sb interest as her age is below 60. So best option is to close the account and open a new Fd or Rd. There is no penalty for premature closure in this case of sudden death of senior citizen. Hope I have cleared your doubts. She will not get scss interest in joint scss account.
@@anandas3733 correct.
After death scsc will be closed,
If a senior citizen's age is 65years and his wife's age is 58 years. Can they invest rs 60laks in scss.
Kindly confirm whether jointly Rs 60 lakhs is possible which perhaps is not permitted
If wife is below 60 years of age ,then can both husband and wife deposit 60 thousand and open account.
No, only for senior citizens
Jointly 60L not allowed. Total SCSS amount is limited to 30L. If both are senior citizens, open separate accounts 30+30L
इसमें फार्म नंबर 15 जी भरना पड़ता है क्या
After 8 years where can they invest for good returns?
Can we reopen the account if we close it for any reason?
Yes. No bar. You can open as many accounts within the limit of Rs.30.00 lac.
41000/per month kaise milega ye batao jo headlines me likha hai.
Vakil hoke ullu banata he
Investment 60,00000
Yearly interest 492000
It means monthly 41000
One husband account ₹30L, one wife account ₹30L . Both separate. But add the interest😅
Is scheme main maximum jama kare to interest se 10 % TDS Kat jata hai.
15 g and 15 h farm Bhar do to nahi katega
If it exceeds 50,000 per year.
Good
30.0 lakh par 20000/- per month milega fir aapne jyada kaise likh diya?
NRI spouse joint account khol Sakta?
I am retired from pvt co lam not getting any thing pl what to do.pl let .know
Taxpayers ko 6000000 ke investment per jo 492000 milega usmein se agar 30% tax kat jata hai to bachega 344400 matlab intrest 8.2% se ghat ker intrest banega 5.74%,kiya main sahi samajh raha hoon ??
4,92,000 pe tax nahi lagega ye check karwa leejiye
7 lakh Tak koi tax nahi hai
Can one open SSMIS in bank and also in Post Office amounting more than 3000000/
Iam 84 yr old nd not getting any pension ammtt .of my husband .Getting a megere amtt.of rs1000. Guide me .
इससे वेहतर सरकारी वेंक SBI Mutual Funds की वरिष्ठ पेनसन जोयना या पोस्ट अफिस पर ज्यादा व्याज मिल सकती। सिर्फ प्लानिंग ठीक चुन्ना चाहिए। 🙏🏻
Yes, you are right.
Mutual funds are less risky and not guaranteed, whereas returns of SCSS are guaranteed..
Ye retired people ke liye hai Jo risk lena nahi chahte aur unhe per month ek guaranteed income bhi mile. Okay 👍
MFs traditionally gives better return than all the Banks scheme.
Remember:
MFs return per year varies ( when you want to withdraw, that year might be giving less return)
MF returns are subject to Lock ins( some scheme), and as such MF interest is variable, similar like SCSS.
MF is subject to LTCG/STCG.
MF partial withdrawal can be done while SCSS full scheme needs to be closed.
MFs are related to Money market directly hence risky but SCSS return is guaranteed
You need to select MF schemes properly ( there are plenty of them) and not all of them gives good return.
What is the use the interest received if more than 50,000 then it is taxed, so it is of no use, why is a senior citizen being taxed, when they do not have a job.
Yes, u are right. In this scenario, you have to declare that you don't have other sources of income, then no need to pay tax.
Up to 3 lakhs no income tax if there is no other source of income